Rising water scarcity and the need to enhance crop productivity have led to the demand for efficient irrigation methods such as micro irrigation. The market for micro irrigation systems is anticipated to expand at a CAGR of 15.1% during the forecast period from 2015 to 2023. The global micro irrigation systems market was valued at US$ 2,594.7 Mn in 2014. Micro irrigation systems are expected to witness high demand during the forecast period owing to the great advantages afforded by the use of these systems in place of their conventional counterparts. Micro irrigation systems offer highly efficient and accurate application of water to plants, while significantly reducing wastage the plant root rather than the whole field. This is one of the most important factors responsible for the increasing adoption of micro irrigation systems in different applications worldwide. Micro irrigation systems are deployed in small farms, government, large private and corporate farming, and other areas, including residential gardens and nurseries.
Micro irrigation systems deliver accurate application of water to plants, increasing the production yield. Thus, micro irrigation systems play an important role in agricultural practices. Moreover, government encouragement for the use of micro irrigation systems in different countries is expected to boost the adoption of these systems worldwide. This is another promising driver for the growth of micro irrigation systems market during the forecast period. The growing agriculture industry in Asia Pacific is expected to substantially drive the market in the coming years. Countries such as China and India are expected to show strong growth in the micro irrigation systems market during the forecast period.
Based on product type, the global micro irrigation systems market is segmented into sprinkler and drip irrigation systems. In 2014, among these, sprinkler irrigation systems were the most preferred, and accounted for around 83% of the revenue of the overall micro irrigation systems market. Moreover, this segment is expected to expand at a CAGR of 14.5% from 2015 to 2023. The most significant factor driving the market for sprinkler irrigation systems is their high adoption in landscaping, turf grass, fields, and other applications.
In terms of different components, the sprinkler irrigation system is classified into tubing, pumping unit, fittings and sprinkler heads, couplers, and others sub-segments. In 2014, the pumping unit sub-segment held the largest revenue share of around 39% of the overall sprinkler irrigation system market. However, the fittings and sprinkler heads sub-segment is expected to expand at the highest CAGR in terms of revenue during the forecast period from 2015 to 2023.
In terms of different components, the drip irrigation system is classified into drippers, tubing, backflow preventers, valves, filters, pressure regulators, and fittings. In 2014, the filters segment held the largest revenue share of around 34% of the overall drip irrigation system market. Moreover, filters are expected to remain dominant throughout the forecast period in terms of revenue share.
Geographically, Europe is the largest market for micro irrigation systems, globally. In 2014, the region accounted for around 32% of the overall micro irrigation market’s revenue. Furthermore, Asia Pacific is expected to witness the fastest growth during the forecast period. China, India, Japan, Australia, and South Korea are among the major markets for micro irrigation in this region.
The micro irrigation systems market is highly fragmented and a few companies, including Netafim Ltd., Jain Irrigation Systems Ltd., and The Toro Company, have established themselves in the market. A large number of other regional players are located across different geographies. These players are well established in regional markets but have a limited global presence. These regional players offer micro irrigation system or components for use in small farms and residential gardens. New product development in turn to increase the efficiency of the system has fueled the demand and created greater opportunities. Therefore all the leading players are focusing on bringing product advancement to micro irrigation systems. For instance, in September 2014, Jain Irrigation Systems Ltd. launched an integrated solar-powered micro irrigation system. The key idea behind this development was to overcome the problems of electricity and water shortage faced by farmers. Moreover, in February 2013, Hunter Industries, Inc. introduced G885 and G85B rotors for golf irrigation systems. These rotors include adjustable arcs, dual trajectories, and wider coverage areas. Moreover, companies are accommodating new regulations and manufacturing specifications in their micro irrigation systems. In order to remain competitive, manufacturers are developing cost-effective and efficient micro irrigation systems.
Some of the major players in the global micro irrigation market include Netafim Ltd., Jain Irrigation Systems Ltd., The Toro Company, Rain Bird Corporation, Hunter Industries, Inc., Eurodrip SA, Elgo Irrigation Ltd., Reinke Manufacturing Company, Inc., Valmont Industries, Inc., T-L Irrigation Company, Lindsay Corporation, Sistema Azud SA, and Rivulis Plastro Ltd.
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